CICC International: Raises Tencent Holdings (00700.HK) target price to 717 Hong Kong dollars, reiterates "Outperform" rating.

According to the CNBC News App, CCB International released a research report stating that Tencent Holdings (00700.HK) as a unique and important beneficiary of artificial intelligence, reaffirming its industry-leading position and "outperform the market" rating. The target price was also raised by 13%, from 635 Hong Kong dollars to 717 Hong Kong dollars. The bank expressed more confidence in Tencent's ability to deploy artificial intelligence across all business lines, leveraging its unique and yet to be fully monetized WeChat ecosystem to drive sustainable profit growth. Following the performance, the bank raised the group's revenue and profit forecasts for 2025-2027 by 2%/3%/3% and 3%/5%/5% respectively.